Royal Challengers Bangalore Sold in Landmark Deal

United Spirits Ltd announced the sale of the IPL franchise Royal Challengers Bangalore in an all-cash deal worth Rs 16,660 crore to a consortium including Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone. The agreement involves a 100% equity stake transfer.

United Spirits Ltd has confirmed the sale of its IPL franchise Royal Challengers Bangalore in a significant Rs 16,660 crore all-cash deal. The buyers are a consortium composed of Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone.

This definitive agreement, spotlighted through a regulatory filing, involves transferring a complete 100% equity stake held by Royal Challengers Sports Private Ltd, a subsidiary of United Spirits. The sale marks a pivotal change in ownership for a key team in the Indian Premier League (IPL) and Women's Premier League (WPL) competitions.

United Spirits Ltd, part of the global giant Diageo, emphasized the significance of this transaction as it reshapes the energy and outlook in the sports domain, particularly within Indian cricket franchises.

(With inputs from agencies.)